Sunday, January 29- 2012 at 11:05
Facebook plans to file documents next Wednesday for its highly anticipated IPO that will value the world’s largest social network at between $75bn and $100bn, the Wall Street Journal has reported, citing unidentified sources. At a $100bn valuation, Facebook would be worth about the same as McDonald’s Corp and nearly half of Google. Facebook’s revenue is driven by its advertising business, as big brands rush to the site to interact with consumers through display ads and fan pages. The online social networking giant has been able to increase its world-wide advertising revenue from $738m in 2009 to $3.8bn in 2011, according to estimates from research firm eMarketer.
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